Bootcamp to drill start-ups about digital disruption of insurance

The insurance industry is about to be swept by a wave of digital disruption. Aviva and NDRC are holding a 48-hour bootcamp for start-ups keen on insuretech

One of the areas of fintech disruption you hear less about is the insurance aspect. But that’s about to change at a 48-hour NDRC and Aviva bootcamp in Dublin in May.

Between 20 and 22 May NDRC and Aviva, which serves 34m customers worldwide, will hold a bootcamp to explore how the insurance industry is being digitised.

“Digital is the new reality for our customers,” said Hugh Hessing, CEO of Aviva.

‘This event is about supporting start-ups and asking them to re-imagine a 300-year-old industry in a digital light’– HUGH HESSING, AVIVA

“From our own research, we know 73pc of customers prefer to go online for basic information on insurance while 42pc of millennials prefer email contact with insurers.

“The advance of technology is going to disrupt our business and unless we embrace it and support its generation, we could get left behind. This event is about supporting start-ups and asking them to re-imagine a 300-year-oldd industry in a digital light,” said Hessing.

Themes being covered during the bootcamp include fraud, the internet of things, health, wealth and privacy.

“Our vision for the event is to link the vibrant technology start-up community with expert insurance teams,” NDRC CEO Ben Hurley said.

“Over 48 hours we will see what challenges, opportunities and potentially new ways of conducting business and products they can identify.

“We have seen some very successful and innovative ventures emerge from previous events and programmes we have run in the sphere of healthcare and fintech, so the process should be interesting.”